tv Varney Company FOX Business November 1, 2013 9:20am-11:01am EDT
♪ >> whoa, watch out, another bombshell from obamacare. the plan you get from your employer may be cancel. good morning, everyone, we're going to have a full report on this, but here is the bottom line. tens of millions of people will be getting those cancellation notices. this affects the coverage that a majority of americans receives. this is a projection by the administration itself, forbes dug it out of the federal register and we are not done. the obamacare debacle rolls on and we know that on day one of the rollout, precisely six people were signed up. and on top of that, top hospitals across the nation are
dropping out. they don't want anything to do with obamacare. apple, amazon, netflix, facebook, twitter they're all in the news today and we are covering it. "varney & company" is about to begin. when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts
>> look at that. all right, here is the big story, let me tell you it's another obamacare bombshell. huge implications is the reporting from forbes. not only did the administration know that 10 million people would lose their private plans, it knew that modifications to the law would cause them to lose their employer provided plans and the numbers are staggering. by november of 2014, 66% of small employer health plans will no longer be legal under obamacare. millions forced to shift to more expensive coverage, losing the plan they've got. not just small business, think you're safe in a big company? not so. according to the forbes report, 45% larger employer plans will also be illegal under the law and therefore dropped. the cbo says half the country's
population is covered by employer provided insurance. what does all of this mean? the total, 93 million americans could lose their health insurance plan that they now have because of obamacare. all by november, 2014. that's a pivotal election month. it's a year from now. huge implications. we're going to detail it for you throughout the program today. there's other big news and headlines for you as well. look at this, judicial watch reports that former irs official lois lerner shared confidential tax info with the federal elections committee. if true, that would be a felly. 48 million people on food stamps facing cuts in the program. 36 bucks a month. 420 a year cut. last item, french soccer going on strike. the reason, french president hollande won't give the teams and players an exemption from that 75% tax on million dollar sales, they're striking. we haven't forgotten about your
money. it's all about tech. apple's new ipad on sale today, that and more obamacare bombshells in a moment. [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account.
some would say it is. we're playing it, get used to it. the retailers are playing it all over the place, desperate to get you to buy already. offering deals on tv's, toys and more. we've got some deals for you in a couple of minutes. the markets are about to open and we'll go to them shortly. the obama bombshell reported by forbes, employer-provided plans are in the cross-hairs. liz, thank you for joining us. this is a bombshell why? >> most employees are covered by employer-provided insurance. and 170 million, the forbes data has 156 million, so this shows that the majority of americans could lose the health plans that they like, the health insurance plans that they like due to health reform. stuart: the cancellations we've heard about is in the private marketplace. >> that's right. stuart: where you buy your own insurance. now we're talking employer-provided health care
plans which may become illegal this time next year. >> right. stuart: that's it? that's it bombshell. that's a majority of people. >> that's a huge number. stuart: all right. we're right at the opening bell of wall street. it's friday morning. we're opening from 15,545, we're expecting a gain of 40, maybe 50 points when we truly open up. we're about to truly open up and the opening trend will be higher. yes, they opened a little late there. 17 points up, 15,563 on the dow as we speak. to the broader list of stocks, which we have before you watch out netflix. amazon is getting into show biz, producing original content for streaming. amazon is taking a look at netflix which has the house of cards and the orange is the new black original series. amazon reaching 364. netflix is up 5 bucks at 328. streaming is king.
apple's thinnest and lightest tablet goes on sale today. i believe there were some lines in manhattan to get it quick. the ipod air, nicole, are you buying one? >> a lot of people i speak with, even tim cook himself, which is is a little biased basically say it's going to be an apple christmas. ipad air, thinner, sleeker, faster, fifth generation, and in addition to that, it's 20% thinner. my kids were talking about it in the car, mom, the ipad air is coming out tomorrow. really? thanks for the update. you know what that means ultimately? if you pick one up this weekend, mom, we won't mind. that's basically what the kids are saying. stuart: they get younger and younger, don't they? nicole, thanks very much indeed. we've opened higher, 58 points up, back above 15-6 and i've got the news coming in. ford motor company, their year
to date, their sales up 14%. it's their best october since 2004. the stock is barely moving, but it is at $17 a share. and i want you to look at facebook. if investors are worried that facebook's losing teens and we've heard at that recently, look at instagram. facebook owns instagram. that according to a new report is wheoing and facebook is at 51 right now. come on in, john layfield from sunny bermuda, i think, let's see the background, bermuda it is. john, one of the themes on this program, and i think maybe you share it, is that technology, it absolutely rules. it's virtually the only game in town for stock investors, isn't it? >> yeah, it certainly is. look at the ipo valuation potentially of twitter. you're going to trade in 20 times revenue on this and twitter is a great company. i don't get that valuation, but that's where the whole migration is going. what facebook has done going to
mobile. what facebook has done with instagram. you lost a lot of teens off facebook. who wants to be on something where their parents can like them? that's one of the main problems. but they're going to instagram which facebook owns. they make tremendous acquisitions. tech is absolutely king right now. stuart: okay, a lot of our viewers tell us that they want to own a stock and hold it. they want po buy it and they're holding it. and they want these new, upcoming technology companies because they think you put a buck in now, and it's going to go up over the years and that's what they want. would you advise buying twitter and holding it? >> i think twitter is a great company, they've gone up four times on the per click revenue, 44 cents compared to 11 cents last year and they've doubled their revenue in the last quarter from year over year, but i don't get a 20-time revenue valuation. i think that twitter has done a wonderful job and increased
their revenue. nielsen now, which is one of the most antiquated rating systems in the world is going to twitter because of the social media activity on television. twitter is the future, i just don't get the valuation here. i would not be a buyer unless you get in on the ipo price, they' they've learned from facebook they want to see a profit in the first few months. stuart: thank you. more from ford. it's the f-series sales. the f-150. they tried to sell me one back a few weeks on the program. the f-series sales topped for the 6th straight month. the ford fusion up 71%. the fiesta gained 9%, these are both reports record setting october sales, both of those marks. we've got one of each of them here. ford is going to try to sell me one of them a little later this hour. the stock barely budging, but it's at $17 a share. we've got kathleen sebelius.
she said this week that obamacare enrollment numbers were not available yet. however, internal notes from the obama administration meeting revealed these numbers. look at this. a total of 6 people signed up on the first day of obamacare. that would be six. the second day, 248. still in obamacare, is this. the top hospitals in the country opting out of obamacare. they don't accept it. what's going on with that, liz? >> what's going on is that essentially the insurers have to have a certain set of insurance plans that are likely pricier and so, they have to get costs somewhere reduced so they're squeezing hospitals and they're squeezing doctors, a lot of doctors and hospitals are saying, you know what? we may not accept these insurers in our own system and you're seeing this happen in california and big states like ohio. stuart: the report i read says 11 of the top 18 hospitals in the country are shunning
obamacare, they don't want anything to do with it. it occurs to me that that would set up a dual system, a two-tier health care system. the quality care at the top if you've got the money and everybody else down here? >> yes, you've got the cash to be able to pay your way. in other words, outside the system. in other words, if you can afford it, not to be in the system, that could be possibly coming down the road. but if this trend picks up, often you see mimicking and copy catting by other doctors and hospitals, they may pick up on what's going on in california and ohio and saying we don't want the insurer plans, they're not paying us what we think we are owed for the services we provide. so then what's the next step. how do you get the doctors and hospitals to comply. imus:. stuart: it's one after another, it's a cascading. it adds up to the death of obamacare. >> the question is when do you have the tipping point when the americans sit up and take note,
this is the truth of what's going on and when you have the administration come out and say, yes, we see the market impact of what's going on with health reform. stuart: john, you're still there. we're talking about an endless series of crisis for obamacare. you're an investor. approach this from the investor standpoint here. do you just walk away from any kind of health care related stock at all? >> yes, absolutely. because you have no idea what the government's going to do. look, i own a web company, we're just to the moneyization phase and i'm giving 100% of profits to charity. i can tell you how many subscribers i have for the website, i could tell you to the second how many people are on the website. the fact that they don't know how many people have enrolled in obamacare, that is a complete fallacy. that's absolutely not true. and that concerns me about this entire spin going on. florida blue had to cancel 80% of their insurance policies. you're going to lose, according to the cbo, in individual policies not only company policies, what liz was talking
about, 16 to 20 million people. that's the size of the state of florida. that's not a rounding error. stuart: all right, john, stay there. going to get back to you shortly. the dow is up 68 in the early going this friday morning, question, have you started your christmas shopping? some say the retailers are desperate that will. liz, they're rolling out discounts, sales, already on this november 1st. >> a month earlier than cyber monday and wal-mart with holiday deals on ipads, tv's, xboxes, you can get great deals there. they're leading the charge here and you're seeing kmart and toys "r" us already doing promotions in the month of september. so they're trying to basically say to themselves, we've got to grab the sales now. this could be one of the most heavily discounted shopping seasons since 2009 when the economy was in that black hole. that's according to morgan stanley. stuart: john layfield, what
does that tell you about the state of the economy, the state of the consumer? >> i think what liz says is right. they've predicted the worst since '09 the shopping season, but look, look, i love wal-mart, the best marketing in the world. every year they come out about this time and reduce prices because they'll help to benefit the american consumer and you have people like us, who have a big following, especially your show, that will sit there and get free advertising out of this. this is what wal-mart does every single year. this is nothing new. the one thing that's new is the economy is hurting this year more so than in recent years. stuart: you've got at that right. john layfield, back to the beach. >> as always, sir. stuart: early in the morning, ten minutes on the trading session. a 70 point gain on the dow industrials. the question, why would you pay thousands of dollars more for a hybrid when you can get the same gas mileage from a tradition l a--
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mercedes-benz. the best or nothing. >> modest rally. 60 points higher for the dow. reaching 15,600. the price of gold. we were in the low 1300's and gold 1314. look at the share price of first solar. it's up big, it's making money on a california solar plant and it's the stock at that leads the 500 in the s&p 500, some 12%, first solar right now. then we have ford motor company sales, pretty good. up 14% year over year. now, we've got the ford fusion outside our studios today, as
well as the ford fiesta. ford motor company u.s. sale director joins us now from detroit. dave, thanks very much indeed for wheeling in the cars outside the studio so our viewers can see them. your going to -- i want to talk about the fiesta. am i right in saying that that gets 45 miles to the gallon and that's the big selling point? >> well, it's got a lot of selling points. let me just tell you why fiesta is so important for us and our brand. first off, 30% of the people that buy a fiesta, it's the first time they've bought it new car. 60% of the customers are brand new to the ford brand and 75% of those customers buy a second or third vehicle down the road. so, it's a very important vehicle on the lineup and yes, that vehicle outside has a new one liter engine which is a worldclass engine and gets 45 miles on the highway. stuart: that's a gasoline only engine, i've got the engine block in the studios and the viewers are looking at it right now.
that's not the whole engine, but the block. 45 miles to the gallon, is that the best gas mileage of a gasoline-only engine? it's just a one liter, right? >> it's an amazing engine. that will fit in your suitcase, you could pack it on a plane. it weighs 200 pounds and it's got great efficiency. 143 horsepower and as far as the performance, again, for consumers, they get the great feel and dynamics of a very, very super powerful engine. stuart: look, i'm getting all the selling points here, dave, but i have to ask you, why on earth would i go out and buy a hybrid, which is much more expensive which does not get that better mileage than your fiesta? >> well, it's a great question. we're having record hybrid sales. our hybrid sales this year are-- >> come on, dave. i know you've go the-- got record sales of the hybrid. >> yeah.
stuart: why don't i go straight for the blue job there, and how much is it, by the way? >> we love the fact that some consumers will take the gas engines and some will take the hybrid. power of choice, we have gas, hybrid and plug-in electrics as well. that vehicle outside you see is little over $47,000, or a little over $17,000, i'm sorry. and as far as the performance of the vehicle, and the package, you get sync technology, my ford touch. great fuel efficiency and a great package. stuart: $17,000 for that blue car right there, 45 miles to the gallon. do you have a hybrid version of the fiesta? >> no, we don't. we have a hybrid version of the c-max and the nkz. stuart: how much extra for a ford fusion hybrid? >> well, a ford fusion hybrid runs around $35,000 to $40,000. stuart: why would i do that? >> it's a great vehicle, great efficiency. stuart: why would i do it?
>> you do it for great fuel economy, 47 miles to a gallon and a lot of people-- >> whoa, whoa, i get 45 miles to the gallon with that blue car, the fiesta. >> right. capacity, it's got a lot more capacity, a lot more space and for a lot of people they like the driving dynamics of a bigger powertrain you get in the fusion as well. fusion sales were up 70% this month on a year over year basis, we're having a fabulous year with fusion and bringing 60% new buyers to our brand with that vehicle line. stuart: dave, you did a terrific selling job, i'm not quite ready to buy, but you're destroying president obama's energy policy. 45 miles a gallon with all gas engine, you're not going to be popular. >> and we-- >> out of time. good luck, man. >> thank you so much. stuart: all right, it's the obamacare bombshell. another one. and it will have huge
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>> what exactly is google doing with the barges they're doing by nearby ports in san francisco? we have a possible answer for you next year. maybe this is why lois lerner plead the fifth, that she gave tax info to the elections committee, that would be a felony. monica crowley is here on that. throughout our program today we've outlined the latest obamacare bombshell. that is the next round of policy cancellations and price hikes that will hit the insurance that most people receive. the coverage from their employer. the insurance that most of you have. here is my take on the politics of this new bombshell. it is a disaster for democrats and here is why. the cancellation of tens of millions of health plans will take place right before the
elections next year. just imagine this. you get insurance from your employer, you're reasonably happy, but your employer tells you, your plan is being dropped. it doesn't conform to obamacare mandates and it's not grandfathered in. you'll get a new plan, but it's more expensive and the deductible has gone up. now, you're not happy because now the true nature of obamacare has been revealed. you have to pay for everybody else. you have no choice. you are ordered to pay more for coverage you may not want. senate democrats very worried. several are up for reelection next year, just as the next round of cancellations arrives in a mailbox of an estimated 93 million people. so here is what you can expect. demagoguery and distraction. it's started already. the left has said that all the insurance companies, they're the ones at fault. that is demagoguery, it's wildly inaccurate. this is obamacare's fault. and it's the president's
design. he doesn't want private or employer insurance. he wants you dependent on government care. and as for distraction, that, too, has started. president obama and the left are trying to convince us that the plans we are forced into are superior. really? i'd like to judge for myself what is and is not a superior plan. i don't think any of this is going to work. people pay attention when their own health care is threatened and threatened it will be. if it's not killed soon, the left will pay a very big price. what if a small company became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim.
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what's in your wallet? i need your timesheets, larry! to the obamacare rollout disaster. grace mary turner on the new bombshell that threatened your employer provided help fund, you too may get the cancellation letter. lois lerner leads the fifth, may have broken federal law. monica crowley on that one. google barges, what is with that? shipping date outside american territory. we will ask that question. the french soccer strike, star players will not be exempt from that 75% tax and she is here. what makes a 59-year-old painting worth $30 million? i don't know but it is here and charles payne will judge it.
straight to nicole petallides happening now. big deal, an ipo the container story started trading. where did it start? nicole: it is a big deal. 100%, anybody want 100%? great showing for an ipo, at $36. you can see there is a lot going on. people used to go to wal-mart, ikea, to get restored and now the container store is all arranged. 63 stores in the u.s.. to give you some perspective there are over 1,000 walmarts. it is growing. last 13 quarters showed sales growth, the latest quarter was a little weaker. that is the one piece of the not
so great news. stuart: nothing to do with shipping containers. this thing is boxes and bins and plastic balls. >> i bet you will go in and leave with something. it is hankers and things for your shoes, your jewelry, desk, a big thing or a little thing, i bought short for my son. i hit this place all the time. thanks for putting your junk in. stuart: when i go to camp is for my jewelry, all the issues that i have got. irresistible. nicole: cleats and things. stuart: 100%. i will take it. the i s and manufacturing index reading, 56.4. that is of fairly positive reading. 56.4 is a positive reading, no
impact on the dow. we were up the and we are 73. i don't think these numbers make much difference. got to look individual tax stocks, a couple big names making headlines. amazon, netflix, facebook, talking about them throughout the show. they are listed right there. we keep saying this but it is true. the only game in town, the big game in town is put your money into technology. charles: we have a plo instead of a p p l. netflix got an a grade. netflix was a couple hundred bucks and free falling and it was 330. tesla got some positive comments. another rave review and all these names, not just technology, you look at things like natural gas, that is the technology play also. it is about brainpower, innovation and that keeps america number one.
it is absolutely amazing. stuart: flashing general motors on the screen up 2.5% because year over year sales are up 15.7%. earlier we had fort up 14% so the big american automaker doing nicely. back to the big story. what i am calling and obamacare bombshell, another one. ninety three million people could lose their health insurance plan they now get from their employer and they could lose it by november of 2014. grace mary turner is our resident expert or one of the mono obamacare and joins us now. i just want to strain this out. there is a possibility here that cancellation notices will go out to literally ninety million people who currently get their health insurance from their employer. have i got that right? >> their employer through small groups and individuals, all the glory of the manhattan institute
put these numbers together to really add up and show that it is not 5% of americans the president has been saying, only 5% which is fifteen million people. it is ninety three million americans who are not going to be grandfathered in. if your policy doesn't meet the very specific obamacare rules ban you have to follow all of the 20,000 pages of rules they have been riding so far and very few policies are able to do that so they have to cover all these new benefits. stuart: this was dug out of the federal register by someone from forbes. they looked at page 44,552. it was the administration's commentary so it came right from the administration itself and they were saying 66% of small business, 45% of small business, those employers who provide that health care may have to cancel the plan these people have got and this would hit this time
next year. that seems to me to be politically loaded right before the election. >> no question about it. up policies have rolling renewal dates and whenever in 2014 your policy expires then you have to cover all these benefits. that is why prices we have seen earlier prices in the individual market going through the roof. people are not getting better coverage. they are getting worse coverage, having fewer doctors, fewer hospitals we learned yesterday and it cost them more, especially young people who are having to pay a disproportionately high so we could very well wind up with more people losing their coverage initially than sign up for this. we learned yesterday that only six people enrolled in the federal health plan the first day. stuart: we haven't gotten the official white house response to this latest report. it broke last night and first thing this morning.
we haven't got the administration's responds. i think they're going to say is those with insurance companies that are doing it and we never said you can keep the plan that you got now. i think that is going to be their response. they will try to divert attention and do the blame game. that is what i think is going to happen. >> that is so right and so reckless. these insurance companies have no choice but to pay for the benefits and provide the benefits. that the law requires. they are required, these policies would be illegal next year. they cannot continue them. if you didn't have a policy in 2010 when this law passed with virtually no changes since then, then your policy will be illegal and for the white house to say insurance companies are canceling these is reckless, wrong and irresponsible. stuart: i'm trying to see jay carney respond to this. i don't know if he has a press conference today but i want to
see the response. >> the other issue is the administration knew this. they were regulations the obama administration wrote these rules, they knew this was coming. the president has been saying you can keep your plan and they knew that was not true. stuart: when it is a bigger bomb shell than yesterday. thank you very much. the irs scandal, remember that? making its way back into the headlines. new e-mails obtained by judicial watch reveal that lois lerner shared highly confidential tax information on several tea party groups with the federal election commission. that is a violation of federal law. monica crowley here anxious to get in on this one. it is the violation of federal law. you may not disseminate that information to anybody. >> confidential tax information, tax-exempt applications, there donor list and we heard from
events over the last six months or so when the scandal broke that maybe there was some information sharing, now we have documentation showing lois lerner herself and her office share this information with the sec. this is a felony. stuart: what is particularly important is she shared this information allegedly with the federal elections commission. they run elections for 7's sake. you share information about the tea party with the people who run elections that means you are dabbling in, you are affecting the election itself. >> this is why this is allegedly a felony if it can be proven and explains why she took the fifth when she was in front of congress. the bottom line is the president, this white house, this administration whether he ordered it or the white house ordered it or not we d that yet but the whole objective was to kill the conservative movement in the cradle before they could gain traction and the strongest, most fearsome way they could do it was the most
fearsome arm of the u.s. government, the irs on these groups and that is what they did. stuart: i wanted to get this out because i don't want anyone to think we have forgotten the irs scandal. millions -- hold on a second. the dow crossed the 100 point gain a few moments ago putting the dow well above 15,600. what was that again? oil? oil is way down this morning, over $1, dollar and $0.30 at $95 per barrel. by the way, i saw a gas in the state of new jersey on the side of route 4 for $2.99 as i went home yesterday afternoon. i came in at 3:30 this morning, $2.99 in new jersey. million on food stamps facing benefit cuts. as margaret thatcher said it seems we are running out of other people's money. >> we have seen this with every
communist and socialist state this is what happens. i have been calling the obama policies for five years socialists and more and more people are getting hip to the program that that is what is happening and the fed keeps pumping money but states can't pump money, states can't print money and so they are between a rock and a hard place with this medicaid expansion because with obamacare more people are enrolling in medicaid and federal government only picks up the tab for another year or two and states pick up the tab and they can't do it so this is just the beginning. stuart: opponents of the cut, they say that this is devastating, direct quote and you are starving children. charles: that is what they are going to say, no doubt about it. i don't think it is true. the real problem we have when someone goes out and as two kids, no husband, no job, she has three kids, no husband, no job, how much of society, how
much of an obligation does society have to feed her kids that she keeps having, how much of an obligation the rest of the world has to keep going out and working when we have our own kids and own dreams and obligations, those two things at some point -- we have to discuss them like adults and the honest. stuart: you will be accused of blaming the victim. charles: who are they the victim of? >> deron bad decisions. to your point this gets to what you are saying, left has been effective for decades in casting their arguments in emotional terms. that is the only thing they have. they don't have facts and history on their side but they have been very effective in connecting with voters that you want grandpa to eat dog food or pushing granny off a cliff and a wheelchair and little johnny not to have a good education and drink their water and not have food stamps. the conservatives have to learn to connect with people emotionally but with the facts
and the facts are that the states and federal governments are bankrupt. we have to start restricting these programs because there is no more money. stuart: it is friday morning, the dow is close to 100 points, another obamacare bombshell we have discussed, all irs scandal back in the news, food stamp cuts, technology going straight up, what a show and check this up. the most expensive item we ever had. how do you pronounced it? charles knows. is worth millions. find out how much it will go for in a moment.
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sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. stuart: oil hitting lowest level since june at $95 a barrel. that could affect your gas price very soon. charles will make us some money. he says office depot, that is not a high-tech company. charles: is a turnaround a. you the good be allergic to turn arounds. a new ceo, new board members
focusing on the ecommerce international business, 1600 stores and they really got their act together, loss of money, this stock will be of to $8 a share over the next year. stuart: wasn't it down two or three? now 5 and change. charles: nice rebound. they hit the inflexion point. stuart: gold and silver. we end with a painting worth tens of millions. that is a picking via swiss guy who painted is 59 years ago and
is worth. explain to me why or anybody should pick $30 million. explain the value. >> interesting to me use said in a break -- to me it is shockingly modern. this is a real envisioning of portraiture in the middle of the 20th century after world war ii he is breaking down that canvas and making it dematerialized and also incredibly cultural at the same time. he is building up the figure with wines and portraying someone who is a very close to him, his brother, at the ago, someone he turned to over and over again as his favorite subject. is a portrayal of life but also portray all from memory because he didn't always have to fit for him. he was constantly invoking his image. stuart: you got me going. that is pretty good. this is radical. is he dead? >> yes. stuart: that painting is
regarded as a real turning point in modern art. >> not only his influence as the portrait artist but his influence on later artists. you can't have bacon and freud and all of these other artists we celebrate in more recent years without him. stuart: you are saying in and of itself, this painting is a milestone? and therefore worth $30 million. i put it to you that it is also worth a lot of money because it is a hedge against inflation, it is a tangible asset which most people would expect to go up some more. that is the real value inherent in this jack and betty. >> that is the value many collectors consider when considering the purchase of this magnitude. stuart: when you being an art lover and art historian you prefer to concentrate on the value of the painting itself, not its inflation hedge or asset value, correct? >> i think i can appreciate clearly the fact that you could
live with this object and the art market has proven to have stable value over time especially in this category. now you are talking our language. it will be auctioned tuesday night in new york city. >> at 7:00. stuart: charles payne knows the pronunciation of the painter's name. leave the bidding on this? charles: no. i am i huge. she and 40 fan --. ian freud fan, i like this. is wonderful as well. >> also a value investment relative -- charles: the word bubble is thrown around with the stock market, these prices are so amazing. you guys afraid about that? may be this is a little bullish right now? >> not at all. other pieces, other portrayals of his brother in bronze have sold for $50 million and --
$100 million which is incorrect. and academic appreciation of his work will be extends true the media and easily import as a painter as a sculptor. stuart: who is selling this painting? >> private collector. has a bonet effort many years and prior to that came from the collection -- a very important european collector. very distinguished. stuart: got it. thank you for bringing it with you today. we do appreciate that. best of luck with the auction on tuesday. thank you. we can't hit the story enough's. it is what we are calling the obamacare bombshell, a to $93 million employer provided health plans killed by next november, a huge political implications. another 2014 as an election year. monica crowley breaks it down after this. does she think president obama
will still play the blame game. >> before the affordable care act these that apple insurers had free rein. every single year to limit the care you received or use minor preexisting conditions to jack up your premiums or bill you into bankruptcy. a lot of people thought they were buying coverage that turned out not to be so good.
stuart: check the markets of 50 points we were up 100. there is speculation manufacturing numbers came in strong, therefore ben will not print so much. and you dismiss that speculation entirely. charles: i don't dismiss anything. stuart: here is the truth, we are up 50 points. two stocks making big moves, the containers for. want to get organized? go to the 63 container stores in the country, the stock did you have an hour ago, doubles, up 94% at 35. look at hewlett-packard leading the dow, a big investor says he likes it. that is enough to get that stock up by 4%. back to obamacare and the latest bombshell. ninety-three million people who get their health insurance through their employers could lose their plan by this time
next year. november of 2014, critical election month. monica crowley is with us. >> we keep talking about these bomb shells. those who oppose socialized medicine from the beginning saw all of these things coming down the pike four five years ago and we were on this show and other shows screaming about this and warning this would happen. bothell point according to obama and left is to destroy the private insurance companies. you are talking to grace mary earlier about employers now this will be the next wave. right now the individual market which we are talking about and it will be employer coverage. the whole point from the beginning was to destroy the private insurance company business. when you said to her the next thing they will do is blame the insurance companies and mark my words you are right. from the president on down they will blame them and look at the public and say we tried the exchanges, tried the private insurance company route and it didn't work so now we have to go
to single payer. stuart: if these cancellation an election, on the democrats test? will they do this? >> democrats, rank-and-file democrats in the senate and congress are worried about this. this is why you see increasing numbers of them arguing for a delay. the president who is not for reelection, he doesn't care and he doesn't necessarily care about his party. going into finding obamacare in 2010 he had the blue dog democrats tinkling blanche lincoln in arkansas completing to him please do not do this, we are all vulnerable, let's do health reform in incremental and piecemeal way as. said no way. those blue dog democrats that decimated and republicans took control of the house bozo barack obama and the left this is what you have to understand is less about his party and less about would elections at this point then it is about the ideological and fundamental transformation
of the nation. charles: it is not about economics. when this guy, a congressman can say is 33-year-old son will get subsidized by the american public because he makes less than 400% over the poverty line it is nuts. they sell it as something altruistic and forget how you pay for it. stuart: i just can't -- i see this thing collapsing. thirty million cancellation notices. >> they always wanted single payer, socialized medicine. obama is on the record with it, nancy pelosi, joe biden, harry reid, tom harkin, a kathleen sebelius call on the record over you say and ultimately we want to get a single payer. this has been designed to fail and collapsed. they will say we have no choice to get a single payer because we are dependent on this. stuart: maybe i am totally naive. i cannot see all democrats in the house going up for reelection next year and going
with this debacle. >> they may appeal away but they are not the ones running this operation. it is obama and h 8 s and kathleen sebelius and their all-out on this plan because it is about a fundamental transformation -- stuart: this latest obamacare bomb shall we broke last night. i saw it on meghan kelly's show last night, first time i had seen this thing, we haven't had their reaction yet. i have not seen the white house reaction. i don't know what jay carney has to say or what harry reid has to say or democrats in the senate who are up for reelection and on shaky ground, is mary landrieu going to go with this and welcome these millions of cancellation letters in her state? >> you will see democrats in congress start to peel away and clamor for -- stuart: kill this thing? >> how has obama reacted so far? the whole point is to not as many people, millions of people lock their private health insurance and get them in the
government exchanges. charles: my company got cancellation letter already. we got one, i don't even know -- new plans, the premiums are going to be. stuart: you are off of the old one. charles: in march or whatever but that is it. we are off. stuart: my dentist gets good business because i have british teeth. everybody, got to move on but thank you very much. it is the big mystery, one of the big mysteries in the tech world, google barges. what is that? floating servers? mobile google glass? i don't think so or something else entirely? it is a step for the tech world, huge things all over the place. what are they doing? got some answers in a moment.
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amazon, original content that they produce, they are putting it out, to stream to their customers head to head with netflix. >> it is brilliant. you are excited about it. stuart: wait a second. you know what they are putting out? >> putting out an original series to compete with netflix, apparently a comedy based on the story of four u.s. senators who share a house in washington d.c.. hijinks in sioux. >> the lighter side of house of cards. evelyn competes with netflix going out with original programming, very successful. now amazon is in that game. this seems to me to imply that streaming is the king of entertainment. >> if you have a dvds you can throw them out. physical media is going to be dead. there is no future there. everything will be streaming, everything will go right into your home, don't have to download anything, it streams and you are done.
stuart: that is why amazon has reached $360 per share in part. >> very successful at selling. stuart: they have a lot of money behind them. this is not an end their original programming. >> absolutely not. this is a big focus. they have seen huge success with netflix doing that and there is no reason they can't follow suit. you will have the equivalent of nbc and cbs, it will be amazon and netflix, pretty remarkable. stuart: are there any other major streamers? >> those are the two players. i would not be surprised if apple got into the game and they got the distribution. they could make their own content. there's a lot of money to be made here. stuart: i should get rid of those 8 tracks. >> and maybe your blackberry phone. stuart: one other subject. mysterious barges docked in san
francisco, portland, maine, a lot of people asking what are they? they are made by google and why are they making these things. what are we doing with them? there's one report that says google is building floating marketing centers, big store for the google glass. google is not commenting but some people think this is a brilliant marketing scheme for google glass. >> not just some people. i think it is a brilliant marketing scheme because we're talking about a national tv right now. stuart: when you think they will float these barges from maine to dock here and there and we will scramble on board to buy google last? >> essentially this is a big play. i am not saying i know for sure that is what this is but it is a big play to promote this new product we're all talking about it. mission accomplished. stuart: that is nonsense. what they are doing surely is loading these gigantic barges
with data storage and then if they are threatened in some way they float the thing out of american territorial waters and they are there for safe. >> that is an option. adult option. that is a conspiracy theory. >> when the credits the fan want to be on one of those google barges hitting into the pacific corp. plant in. they're the headline that says another reason for these barges is a luxury showrooms for vip clients to bring them in and show the latest and greatest. stuart: why do they have to put that on a barge? >> it is hi be visible, completely covered, no one has any idea what is in there. their own mini area 51, what is that? >> what are the implications of this? if they are off shore do they have to pay taxes? charles: i don't think so.
they will do this big giant barge in international waters because of immigration policies. you can't -- we fill the quota up and get a lot of people -- more sense than google glass. stuart: if i live in st. louis i am really out of luck. a long way from my google barge. but you think -- >> would not be surprised if that is where it is. someone will get a promotion if someone gets a really good idea. stuart: i am flabbergasted. good discussion, thank you very much. now this. french soccer goes on strike. now those pagan losers don't even get to watch their soccer. we will deal with it in a moment.
14% from x 150s to the fusion. gm sales up 16% and both of those stocks down a fraction the gms up nicely. big story of the day, obama as the best care bombshell, ninety-three million people could lose their employer provided health plan by next november. waiting for anyone from the white house to answer the hhs statement. will they make a statement on it? six people signed up on day one of the web site. back in a moment. [ tires screech ]
stuart: retailers are starting their holiday deals really really early because there's a shorter holiday season this year. do you have some stocks for me? don't expect any impact on the stocks. they are down because to me the dealmaking early implies desperation. >> to a certain extent it does. why not sell things that full price? you are already seeing these discounts, bargain-basement and analysts anticipating the worst holiday season since 2009 but already cutting prices, forget black friday, cybermonday, how about november 1st? pretty amazing. the deal are already starting for walmart, macy's and the like. stuart: they start early, seems to be earlier than ever. that is because they think this
is a pretty weak holiday season and i will bet you president obama turns around and says republicans. >> of course he will blame it on the republicans and the government, it back and everyone but himself and his bad policies. retailers are looki things, the unemployment trend and it has been going downwards in the wrong direction. new jobs created is correct, exactly right. and looking at consumer confidence which may be an important number and consumer confidence. stuart: jobs are better than the two preceding months and the manufacturing number in september significantly better. the shutdown did not impact those things. that is a lie that won't have fought long way to go even though they wish it would. i find it interesting the last three month on record people decrease their credit card spending. americans don't have the confidence it takes to spend money they don't have.
connell: a decrease? it is time to make some money. what have i got here? level 3 -- charles: it is the networking play. these guys were amazing. when cac was hot they raise $14 billion, the best funded startup in history became like a roman candle. you see where the stock is, made a big move. the high is $1,952 a share adjusted for the split. i think it will get at least $40, finally turned the corner, making money, video in the cloud, gaming solutions, all the things we talk about that have to make happen. stuart: we shall see. do you fancy a 75% income-tax rate? french soccer players do not want to pay vat rate but the president of france doesn't care. francois hollande refused to grant french soccer teams and players and exemption from the
75% deal. our favorite recovering european is with us today in new york, welcome. am i right in saying that this morning in paris, some of the french soccer teams held of meeting with francois hollande, pleaded for an exemption and didn't get it. >> i think it is because there's a big tension. if francois hollande were to cave how would be justified those who love soaking of a rich? it would be quite hard. what is going to be interesting is the attention it creates because as much as the french love soaking the rich they do love their soccer. charles: it will be a strike. >> they will suspend all the games, one of the weekends in november and will be interesting to see how long francois hollande last. i hope he doesn't cave because the more people are subjected to
the aggressive tax he has in mind, the harder it is going to be to actually sustain this horrible system. stuart: can france go without -- >> i am cheering for francois hollande. it doesn't happen. i just kind of really hope -- stuart: you don't want exemptions because you want everybody to feel the full impact. >> the general principle, if you are taxing people, tax everyone. if you are giving a tax credit to industry give it to everyone. if you are spending on families give it to everyone. stuart: hold on a second. public opinion in france is 67%. that is the number i saw this morning, 67% of french people want the soccer team that starts to pay a 75% tax rate. >> we see how it translates, when in fact there is no --
charles: what is his popularity rating? it plunged. >> the lowest rated president of all time i think. stuart: the economy is not performing. charles: that is why it is not performing because of high taxes and regulation. >> i disagree with you. people are done, they had enough. they may wish to soak the rich but they also should not forget in the last four years, they have seen their taxes, many of them by 205 times. it is a lot. some of them, the tv tax, personal income tax on up. everyone has been affected and people are fed up. stuart: you live in the united
states. >> i do thankfully. stuart: do you think there is a similar feeling in the united states, people fed up with ever higher taxes and the nonperforming economy? i suspect people are not fed up with soaking the rich. they want more. >> people are fed up with soaking the rich because the alternative, they perceive is something that will affect them and people turn measuring the gap, the fiscal gap and tremendous negative consequences on the economy and not to actually say i should want less spending, i should want the government to reform entitlements. it hasn't reached that policies -- >> policies have to affect people. we are seeing that with obamacare. it is directly affecting -- premiums are going up. other wise it is just the new normal but when it hits you through taxes or losing your health insurance that is when
people pay attention. >> not like they are losing their coverage, then they go on the exchange if they're lucky enough for it to function and realizing their premium is going up tremendously. stuart: thank you very much for coming in today in new york city, welcome to the big apple, great to have you here. "after the bell" obamacare being mocked on twitter because it is fried a little obamacare disaster humor for you. that is next. (vo)ou are a business pro.
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or go to lifelock.com/notme. stuart: there has been a lot of anger over the rollout of obamacare about one person has chosen to turn that into humor. they created a twitter page sending out messages as if the web site could speak. we don't know who is behind them but be want to make it clear they are not affiliated with the government. we got a couple of them. here is what we ve se. weesnheit to hale llio ofpplicants alo as ty al come one at time. very funny, very sarcastic. out of the millions of lines of code, what percentage of them need to be correct? not wildly humorous. if you like your plan, hit a l t
and print screen to take a screen shot to remember it by. i am not sure i get the humor in al of that chars: l isecology yeer. worng othatca. what oer bwsers do people it is tech center but here is the gist of it. when this plan is synonymous with failure, when you hear obamacare exchange the first thing you think of his failure and that right now makes it the butt of a lotf jokes. uar it is bngiduled. ricule chars: i was pmod ch. li thlaw uth, theoxer eryby hesholway brgingalws ld a get knocd o in t fst round. peop che theore umblthg, if i di't me sh grdiose omis, m be de in a dierenmann butt me so gigticromisha hast divern any of them. stuart: dow was up 71. the obamacare bombshell huge the obamacare bombshell huge implications, you are not happy
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stuart: last hour i gave you my take one new obamacare bombshell, all these millions of people that could see cancellation of their employer plan. that was my take in the last hour. i say it's a disaster for democrats. now here's your take: stuart: you've got five seconds. >> a lot of people said that's what the tea party should have done, step back instead of all
the other things that gave them bad publicity. stuart: i think they're saying i told you so. craig p, it's yours. dagen: craig the government will step in with your money and my moan and try and right it. thank you so much, gentlemen. on the road, hhs head kathleen sebelius hoping to boost enrollment numbers and maybe set the record straight this time. getting back to normal in 2017 goldman's latest look at jobs in america. a government grab for nba star kobe bryant, the laker due to make $24 million today, 14 of it goes right to uncle sam. and $300,000 lost in an instant. a ferrari in the wrong place at the wrong time. that is not some graphic we made up, that is something that happened in new york. all that and so much more. connell mcshane is here too. this hour of "markets now"